TOLD also recently developed similar buildings for Anheuser-Busch, the St. Louis-based beverage company, in Texas and Oklahoma.
In each case, Anheuser-Busch identified the location that best fit its needs and then turned over the responsibility of land acquisition, government approvals, design and construction to TOLD.
Upon completion, the Devens facility was sold to Persis Corp., a private investment group headquartered in Hawaii, while the building near St. Louis was sold to Monmouth Real Estate Investment Corp., a public REIT located in New Jersey.
The buildings are each designed to streamline the delivery of more than 500,000 cases of beer per week. They use state-of-the-art refrigeration controls to ensure quality and freshness.
TOLD Development, headquartered in Eden Prairie, MN, specializes in the development of office, multifamily housing, retail and industrial properties.
Since TOLD was founded in 1986, it has completed 69 projects totaling more than 5 million sf of space.
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